The "U.M.S." in the cancels below stands for United Metals Selling Company. Without knowing better I would be sure the S would stand for Smelting, a core metals processing activity and a business that would make the Guggenheim family wealthy. Whatever the case, this firm is of the Selling variety, and one that worked to keep prices high.
The Sherman Antitrust Act was passed in 1890. Given the scope and purpose of the United Metals Selling Company, established in early 1900, either the definition of restraint of trade was a bit narrower than we understand it today, or the organizers didn't care and thought they could bully and perhaps bribe their way around the 1890 law. The New York Times article from February, 1900 below, provides a good sketch of the mission of the new firm. At the time, many forms of restraint of trade, despite the 1890 law, seemed to be in play, perhaps the best example being John Rockefeller's monopolization of the oil industry. What to me is most interesting about this firm is the name itself, which announces that it exists to set and dictate metal prices.
The document fragments I've included below were a part of a hoard of bills of exchange fragments that were sold by a vendor in the United Kingdom many years ago. The front side of the document below provided just enough information to sort out the firm that canceled these stamps.
Note the R172p on the fragment below.
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